I have a great credit for as long as I can remember, now Lowe’s credit card screwed up my credit for not my fault, what shall I do to repair it?
Thx Cathy
I have a great credit for as long as I can remember, now Lowe’s credit card screwed up my credit for not my fault, what shall I do to repair it?
Not enough information provided.
What happened? ‘screwed up my credit’ doesn’t say how they ‘screwed’ it up.
AJ
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As AJ implied, how you clean up the mess depends in large part what the mess is. Did you miss a payment or two? Did they allow a fraudulent charge? Did they report an incorrect negative market to your credit report? Did they close your account for inactivity?
Most credit card companies are highly automated, so when they do something, it is in response to something a customer did. Customer Service has the authority to undo some of those actions based on certain “good will” criteria or to make good on actual mistakes, but sometimes a consumer just has to take responsibility for their actions.
Fuskie
Who thinks the first step to rehabilitating one’s credit score is to take corrective action on what caused the score to drop, then instituting behavior improvements to ensure positive and disciplined credit card usage going forward that will lead to higher scores over time…
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Thanks for the replied. What happened was I bought a kitchen cabinet and accessories from Lowe’s , they deliver the wrong Cabinet, I asked them to take it back and I no longer want it and spoke with Lowe’s manager and agreed no cost incurred. And Lowe’s credit card company kept charging me from over $100 to about $500 after a few months. I called Lowe and they said it shall not have any cost in my side. After spoke with the credit card company, we settled with no cost incurred indeed, but now my credit score is much lowered. Over the thirty some year, I always pay the balance off each month, and have a high score but now when I apply a new credit card, I found out my score was lower by allots.
Since it was resolved that no payment was due, have you requested Lowes to remove the derogatory reports?
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I would pull my credit report and dispute anything involving the incident with Lowe’s. Make sure you dispute it with all three credit bureaus. In 90 days or so follow up with the credit bureaus. It may take a while.
I had an exhusband use my credit for a truck purchase. Took me over six months to get it off all three credit bureaus. I also contacted his divorce attorney and told him to warn my ex that if I ever saw anything on my credit again I sue for him fraud.
AC after we’re divorced you don’t get to use my credit rating
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What happened was I bought a kitchen cabinet and accessories from Lowe’s , they deliver the wrong Cabinet, I asked them to take it back and I no longer want it and spoke with Lowe’s manager and agreed no cost incurred. And Lowe’s credit card company kept charging me from over $100 to about $500 after a few months.
Did Lowe’s actually take the cabinet and accessories back? Because when you say “agreed no cost incurred” that makes it sound like you might have kept the incorrect cabinet, and the manager just agreed to give it to you for free.
In either case (whether Lowe’s took things back or not), I would disagree that you have no fault in this. When you came to the agreement with the manager, you should have requested credit on the account that you charged it to and gotten a receipt showing that the credit was applied - not just talked to the manager. Without having a receipt showing that you were supposed to get credit, you don’t have any proof in writing that you came to an agreement with the manager.
Then, you should have been examining the account bill to ensure that the credit got processed properly, starting with the very first bill that you got after your discussion with the manager. It doesn’t seem like you did that. You say that the bill increased from over $100 up to $500. Per Lowe’s credit card agreement https://apply.syf.com/cs/groups/public/documents/et_tcdoc/e0… the late fee is up to $40 a month, and the interest rate is 27% Even with a $500/month balance, the monthly interest would only be $11.25/month, so that means that for most months, your monthly balance would have been increasing by less than $50/month. To account for the $400 increase from $100 to $500, that would appear that late fees and interest continued to increase for at least 7 or 8 months, depending on how much ‘over’ $100 your initial balance was.
That said, since you did come to an agreement with Lowe’s, as vkg suggested, likely the only way to get this repaired is to get Synchrony (the Lowe’s credit card issuer) to remove the derogatory marks. If Synchrony won’t remove the derogatory marks when you request (in writing) for them to do so, you could complain to the CFPB https://www.consumerfinance.gov/ If you believe you have enough documentation to prove your case, you could even sue Synchrony. But without anything written, you may just have to wait for the derogatory marks to drop off.
AJ
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AJ, thanks for the explanation, I did return anything I bought and Lowe’s stated that they received them. Now I have to call Lowe’s credit card company to remove the derogatory marks. Thx again.
I assume you have confirmed that Lowes filed a negative report to one or more credit reporting agencies. And if you have attempted to resolve this with Lowes but without satisfaction, you should file a dispute with the credit reporting agencies with which Lowes filed its reports.
Fuskie
Who notes there’s a difference between Lowes the company and the financial institution that operates Lowes’ credit cards, so you may want to dispute a credit card charge if it was supposed to be reversed and was not, but be sure to do so within the allowed time frame…
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Something similar happened before to me with Verizon. I hired a lawyer who sent them a letter saying a lawsuit would be coming if they did not amend their mistake and incorrect reporting to the credit bureaus + lawyer fees. The quickly removed them after the letter was sent out certified. Lawyer cost was $500 which they sent me a check for.
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